XML 46 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities    
Net income $ 153,054,000 $ 78,980,000
Adjustments to reconcile net income to net cash provided from (used in) operating activities:    
Depreciation and amortization 447,766,000 387,599,000
Other amortization expenses 3,065,000 6,543,000
Stock-based compensation expense 21,837,000 12,694,000
Loss (gain) on derivatives, net 351,000 (407,000)
Loss (gain) on extinguishment of debt, net (383,000) 308,000
Income (loss) from unconsolidated entities 17,073,000 3,198,000
Rental income in excess of cash received (26,414,000) (18,463,000)
Amortization related to above (below) market leases, net 365,000 245,000
Net loss (gain) on sales of properties (13,079,000) (52,495,000)
Distributions by unconsolidated entities 7,155,000 0
Increase (decrease) in accrued expenses and other liabilities 5,433,000 25,507,000
Decrease (increase) in receivables and other assets (21,455,000) (36,356,000)
Net cash provided from (used in) operating activities 595,534,000 406,737,000
Investing activities    
Cash disbursed for acquisitions (488,066,000) (2,432,376,000)
Cash disbursed for capital improvements to existing properties (54,688,000) (48,480,000)
Cash disbursed for construction in progress (95,201,000) (119,333,000)
Capitalized interest (3,305,000) (2,992,000)
Investment in real estate loans receivable (54,877,000) (53,072,000)
Other investments, net of payments (47,858,000) 8,051,000
Principal collected on real estate loans receivable 20,941,000 55,547,000
Contributions to unconsolidated entities (246,794,000) (361,107,000)
Distributions by unconsolidated entities 22,925,000 14,786,000
Proceeds from (payments on) derivatives investing 0 (2,604,000)
Decrease (increase) in restricted cash 7,682,000 (82,292,000)
Proceeds from sales of real property 140,819,000 321,303,000
Net cash provided from (used in) investing activities (798,422,000) (2,702,569,000)
Financing activities    
Net increase (decrease) under unsecured lines of credit arrangements (130,000,000) 0
Proceeds from issuance of senior unsecured notes 0 497,862,000
Payments to extinguish senior unsecured notes (1,000) (3,000)
Secured debt issued 10,690,000 71,340,000
Payments on secured debt (219,980,000) (73,557,000)
Net proceeds from the issuance of common stock 1,101,969,000 1,730,235,000
Decrease (increase) in deferred loan expenses (3,395,000) (10,790,000)
Contributions by noncontrolling interests 4,485,000 [1] 3,730,000 [1]
Distributions to noncontrolling interests (14,208,000) [1] (9,860,000) [1]
Acquisitions of noncontrolling interests (1,175,000) 0
Cash distributions to stockholders (495,256,000) (433,018,000)
Other financing activities (608,000) (2,072,000)
Net cash provided from (used in) financing activities 252,521,000 1,773,867,000
Effect of foreign currency translation on cash and cash equivalents (1,059,000) 673,000
Increase (decrease) in cash and cash equivalents 48,574,000 (521,292,000)
Cash and cash equivalents at beginning of period 158,780,000 1,033,764,000
Cash and cash equivalents at end of period 207,354,000 512,472,000
Supplemental cash flow information:    
Interest paid 224,544,000 196,980,000
Income taxes paid $ 11,955,000 $ 2,625,000
[1]
(1) Includes amounts attributable to redeemable noncontrolling interests.